Palatin Technologies (NYSEAMERICAN:PTN) Stock Rating Reaffirmed by HC Wainwright

Palatin Technologies (NYSEAMERICAN:PTN)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $17.00 target price on the biopharmaceutical company’s stock.

Palatin Technologies Price Performance

PTN traded up $0.24 during trading on Thursday, reaching $2.11. The stock had a trading volume of 462,225 shares, compared to its average volume of 591,692. The company has a market capitalization of $34.06 million, a price-to-earnings ratio of -0.80 and a beta of 0.86. Palatin Technologies has a 1-year low of $1.43 and a 1-year high of $5.65.

Palatin Technologies (NYSEAMERICAN:PTN) last posted its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.36). Palatin Technologies had a negative net margin of 445.12% and a negative return on equity of 583.06%. The company had revenue of $2.03 million during the quarter, compared to the consensus estimate of $2.28 million. During the same period in the prior year, the company posted ($0.13) EPS. Equities analysts expect that Palatin Technologies will post -2.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Palatin Technologies

An institutional investor recently bought a new position in Palatin Technologies stock. Armistice Capital LLC acquired a new position in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 590,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,348,000. Armistice Capital LLC owned 4.29% of Palatin Technologies as of its most recent filing with the Securities and Exchange Commission (SEC). 11.50% of the stock is owned by institutional investors and hedge funds.

Palatin Technologies Company Profile

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.